In Brief:
- Sorare (official site) has raised tens of millions of euros from existing investors to support its strategic growth plan.
- The company aims for profitability by the end of 2027, driven by its new free-to-play Arcade mode.
- Legal challenges persist, including a prosecution by the UK’s Gambling Commission over alleged unlicensed gambling activities.
Funding round details
Sorare secured additional funding from existing backers, including Benchmark, Accel, Partech, and Kibo Ventures, following an announcement on September 3. Co-founders Nicolas Julia and Adrien Montfort participated in the investment round, which Julia said totaled tens of millions of euros. While initial funding is complete, further investment is anticipated. No specific valuation was disclosed.
Growth momentum
Sorare reported an 85% year-on-year increase in net revenue in the first half of 2026, with over 100,000 users purchasing cards. Julia stated that the company now targets profitability by the end of 2027, a shift from its previous goal set in late 2025.
Central to its strategy is Arcade, a free-to-play feature that allows fans to collect football cards, form teams, and participate in challenges based on real-match performances. Players can earn packs through gameplay or purchase premium currency to enhance their collections. Julia projects Arcade could generate between €15 million and €20 million in net revenue in 2026.
Restructuring efforts
This funding comes five years after Sorare raised $680 million at a $4.3 billion valuation. Since then, the company has faced challenges in maintaining costly licensing agreements as spending from customers fell short of expectations. To address this, Sorare reduced its annual licensing commitments by over €500 million through negotiations and contract withdrawals and has streamlined operations by centralizing in Paris after closing its New York office.
Product expansion and challenges
Although Arcade aims to attract a broader audience by allowing user engagement without upfront costs, its success hinges on maintaining repeat play and monetization. The company’s efforts to adapt follow its migration of games and NFTs to Solana in October 2025.
Legal hurdles remain as Sorare faces prosecution from the UK’s Gambling Commission for allegedly offering unlicensed gaming services. The company has pleaded not guilty; a trial is set for June 7, 2027. Additionally, around £10 million paid to the Premier League is currently under scrutiny due to a National Crime Agency investigation.
Julia remains focused on the path to profitability despite these challenges.
